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Thursday, November 21, 2019

What is the mean by Credit insurance in real estate?

If you are searching for the meaning of Credit insurance in real estate and also a definition of Credit insurance,  then this blog post is helpful for you

Definition

Insurance a lender offers or requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan. 

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